Russia is adopting a different attitude towards cryptos than China. President Putin has come public saying
"Bitcoin has value but it cannot be used in the Oil trade" I guess Putin didn't still fully grasp the real potential of cryptos as he says
“Cryptocurrency is not supported by anything as of yet. It may exist as a means of payment, but I think it’s too early to say about the oil trade in cryptocurrency.”
But even so, it shows that Russia seems to be adopting a friendly position facing cryptocurrency and it may be having some impact on the industry. Given that China adopted a harsh position towards cryptos, is it possible that miners are relocating from China to Russia? Is it possible for Russia to step up to occupy the former place China had in Bitcoin? I guess this is what is happening, otherwise, Putin wouldn't come public with such a neutral position.
Being a resident of Russia, I am really happy that Putin doesn't prevent us from buying and trading cryptocurrencies. We can't pay with them, but at least we can use them as investment. I think that it is a wise step from him as Bitcoin and blockchain technologies in general have a big potential and are really useful, so if Russia starts adopt Bitcoin in the same way as America, it will be good for it.